Barclays analyst Julian Mitchell lowered the firm’s price target on Johnson Controls to $64 from $66 and keeps an Equal Weight rating on the shares. The analyst says receivables movements may weigh on the company’s free cash flow. The firm sees risks to Street estimates for Johnson Controls due to the receivables element and factoring questions.
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Read More on JCI:
- Johnson Controls price target lowered to $66 from $69 at Barclays
- Johnson Controls narrows FY23 adjusted EPS view to $3.55 from $3.50-$3.60
- Johnson Controls sees Q4 adjusted EPS $1.10, consensus $1.13
- Johnson Controls reports Q3 adjusted EPS $1.03, consensus $1.03
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